All up in my Business .

Sole Proprietorship

The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.

Example :A landscaper may work alone or hire a small team of employees. Landscapers maintain lawns, plants and trees of homeowners and businesses. Most landscaping companies working with commercial customers hire employees to work on projects.

Partnership

A business or firm owned and run by two or more partners.

Example :General partnerships are the basis for many legal firms. An example of a general partnership among attorneys might be, “The Law Offices of Smith, Jones and Daniels.”

Corporation

A company or group of people authorized to act as a single entity (legally a person) and recognized as such in law

Example: McDonalds , Sonic ,Best Western, Hooters

Definitions

Limited Liability -Limited liability is where a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a company or partnership. If a company with limited liability is sued, then the plaintiffs are suing the company, not its owners or investors.


unlimited liability-Unlimited liability refers to the legal obligations general partners and sole proprietors because they are liable for all business debts if the business can't pay its liabilities.


stock-the capital raised by a business or corporation through the issue and subscription of shares.


dividend- check paid usually quarterly representing portion of corporate profits



board of director- runs company

Which type if business is more common ?

Sole Proprietorship , because it is the simplest business form that someone can operate.